According to the Semiconductor Industry Association, projected sales of semiconductors will grow by about 13% year-over-year in 2024. With the continued buzz around AI and chipmakers, many eyes on Wall Street turn to companies like Nvidia (NVDA), Intel (INTC), and Advanced Micro Devices (AMD) to take advantage of these projections. Can they live up to the hype?
Bernstein Managing Director and Senior Analyst Stacy Rasgon joins Yahoo Finance to discuss the state of the chip-making industry and whether or not these companies, as well as other AI-adjacent industries, deliver on Wall Street expectations.
Ragson explains which sectors will benefit and which won't from AI in the near term: "AI is clearly off the charts, that's growing. Things like PCs and smartphones, which actually went through their bathtubs, they were very weak last year, they're coming out the other side of it though. Those should probably grow this year, some. I'd say things like more in the meat of the downturn, the traditional data center, data center service CPUs, networking, that sort of thing are pretty weak. I would say on the industrial and auto spaces that affect a lot of the analog names, those are just starting to roll..."
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Nicholas Jacobino
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February 06, 2024 at 04:54AM
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